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Hedge fund Quinbrook acquires 1.6GW US wind pipeline

Quinbrook Infrastructure Partners, an Australia-based hedge fund with an office in Texas, has acquired US wind developer Scout Clean Energy and its 1.6GW project pipeline – and says it is on the lookout for additional projects.

Scout, based in Boulder, Colorado, has a pipeline spanning nine US states, the “majority” of which are qualified for the full production tax credit, the company says. The 1.6GW pipeline would require $1.7bn of capital investment to get built.

The terms of Quinbrook’s acquisition were not disclosed. A report last year in PEI Alternative Insight says that Quinbrook typically seeks deals in the $50m-$150m range across the UK, US and Australia.

"Quinbrook is taking the deliberate approach of pursuing attractive wind development sites supported by highly experienced teams prosecuting the development of PTC-qualified projects,” says Shawn Cumberland, senior managing director of Quinbrook in the US.

“In addition to Scout's already significant pipeline of wind development projects, Quinbrook intends to use Scout as a platform for further growth in wind power both organically and through complimentary acquisitions in North America that satisfy Quinbrook's investment criteria,” Cumberland says.

Scout is led by president Michael Rucker, who served formerly as chief executive of developer Juwi Wind North America, and before that worked for GE and Clipper Windpower.

Rucker and the Scout team claim to have developed and built 649MW of US wind capacity since 2011, including the recently completed 230MW Mariah North wind farm in Texas, which uses GE turbines.

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Hedge fund Quinbrook acquires 1.6GW US wind pipeline

Quinbrook Infrastructure Partners, an Australia-based hedge fund with an office in Texas, has acquired US wind developer Scout Clean Energy and its 1.6GW project pipeline – and says it is on the lookout for additional projects.

Scout, based in Boulder, Colorado, has a pipeline spanning nine US states, the “majority” of which are qualified for the full production tax credit, the company says. The 1.6GW pipeline would require $1.7bn of capital investment to get built.

The terms of Quinbrook’s acquisition were not disclosed. A report last year in PEI Alternative Insight says that Quinbrook typically seeks deals in the $50m-$150m range across the UK, US and Australia.

"Quinbrook is taking the deliberate approach of pursuing attractive wind development sites supported by highly experienced teams prosecuting the development of PTC-qualified projects,” says Shawn Cumberland, senior managing director of Quinbrook in the US.

“In addition to Scout's already significant pipeline of wind development projects, Quinbrook intends to use Scout as a platform for further growth in wind power both organically and through complimentary acquisitions in North America that satisfy Quinbrook's investment criteria,” Cumberland says.

Scout is led by president Michael Rucker, who served formerly as chief executive of developer Juwi Wind North America, and before that worked for GE and Clipper Windpower.

Rucker and the Scout team claim to have developed and built 649MW of US wind capacity since 2011, including the recently completed 230MW Mariah North wind farm in Texas, which uses GE turbines.